Crossamerica Partners (NYSE:CAPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and owns and leases real estate used in the retail distribution of motor fuels. CrossAmerica Partners LP, formerly known as Lehigh Gas Partners LP, is headquartered in Allentown, Pennsylvania. “
CAPL has been the topic of several other research reports. Wells Fargo & Co upped their price target on shares of Crossamerica Partners from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Tuesday, August 14th. ValuEngine raised shares of Crossamerica Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, B. Riley set a $25.00 price target on shares of Crossamerica Partners and gave the stock a “buy” rating in a report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.17.
CAPL stock traded down $0.10 during midday trading on Monday, reaching $15.84. 27,400 shares of the company’s stock traded hands, compared to its average volume of 62,847. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.77 and a quick ratio of 0.61. Crossamerica Partners has a 52 week low of $15.50 and a 52 week high of $25.77. The stock has a market capitalization of $548.87 million, a price-to-earnings ratio of -198.00 and a beta of 1.23.
Crossamerica Partners (NYSE:CAPL) last issued its earnings results on Monday, August 6th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Crossamerica Partners had a net margin of 0.66% and a return on equity of 3.27%. The business had revenue of $673.30 million for the quarter, compared to the consensus estimate of $667.48 million.
In related news, Director John B. Reilly III bought 10,695 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was bought at an average cost of $18.20 per share, for a total transaction of $194,649.00. Following the completion of the transaction, the director now owns 199,916 shares of the company’s stock, valued at $3,638,471.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A number of large investors have recently made changes to their positions in CAPL. UBS Group AG boosted its holdings in shares of Crossamerica Partners by 8.7% in the 1st quarter. UBS Group AG now owns 66,620 shares of the oil and gas company’s stock valued at $1,370,000 after purchasing an additional 5,313 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Crossamerica Partners in the 1st quarter valued at $206,000. Bank of Montreal Can acquired a new stake in shares of Crossamerica Partners in the 2nd quarter valued at $338,000. Creative Planning acquired a new stake in shares of Crossamerica Partners in the 2nd quarter valued at $238,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Crossamerica Partners in the 2nd quarter valued at $5,916,000. Institutional investors own 32.69% of the company’s stock.
About Crossamerica Partners
CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. The company operates in two segments, Wholesale and Retail. The wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, operators of retail motor fuel stations, Circle K Stores Inc, and company operated retail sites.
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